The Federal Government on Monday said that it had no choice than to liberalize the price of petrol. The Minister of Information and Culture, Alhaji Lai Mohammed, who stated this at a news conference in Abuja, justified the increase in the price of petrol to N145,
He also faulted a claim that the new price regime was about removal of subsidy.
He stated, “We have no choice than to liberalize the price of petrol, if we are to end the crippling fuel scarcity that has enveloped the country, ensure the availability of the products and end the suffering of our people over the lingering scarcity.”
Debunking a claim that the new price regime was about removal of subsidy, he said, “There is no subsidy to remove because no provision was made for subsidy in the 2016 budget. Last year, the government paid out 1 trillion Naira in subsidy, and that’s one sixth of this year’s budget. We can’t afford to pay another 1 trillion Naira in subsidy.”